Eximad negotiations concluded
Riosun Resources Corp RSR
Shares issued 9,420,325 Apr 24 close $0.45
Wed 29 Apr 98 News Release
Mr. Ken Hughes reports
Negotiations have been concluded with the minority shareholder in the
Eximad Emerald mine company Eximad SARL, to purchase all the remaining
outstanding 20 per cent interest and shares. Riosun or related parties,
will own and control 100 per cent of the mine, and all assets and
concessions.
One of the benefits of the agreement is the cancellation of a previous
commitment to issue 2,500,000 shares to the vendor of the Eximad property.
Instead, the company will issue 600,000 shares.
The company is proceeding to effect operation of the mine as soon as
possible. Delays related to severe weather prevented the company personnel
from commencing start-up of the mining at an earlier date. Start-up is
expected in the month of May, 1998.
Michael Ross of Vancouver, and Griff Lloyd of Calgary have been nominated
for the appointment to the board of directors, to be confirmed at the
upcoming AGM, to be held in June.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
|
